Around the world, healthcare still pays more than any other sector for data breaches
HealthExec
|
Contributed by: Drex DeFord
Summary
A recent IBM report reveals that healthcare remains the hardest-hit industry by cybercrime, seeing data breach costs of $9.77 million between March 2023 and February 2024. This represents a 10.6% drop from the previous year, yet healthcare still far surpasses the financial sector at $6.08 million. The report underscores that legacy technologies and high disruption vulnerability make healthcare a prime target. Additionally, the study observed a 10% increase in the global cost of data breaches, reaching $4.88 million, largely driven by business disruptions and customer support post-breach. Security AI and automation have proven effective in reducing breach costs by an average of $2.2 million. However, a significant gap in skilled cybersecurity staff persists, exacerbated by growing threats and the rapid adoption of generative AI technologies.
